Cuba Just Got a Little More Libre
Cuba has devalued its two types of peso by eight percent. Tourists, c'mon down!
The 2008 financial crisis and three brutal hurricanes and tornadoes have wreaked havoc on Cuba's economy, and this devaluation, the first in six years, should reduce the cost of travel to Cuba and increase the value of remittances to residents.
The central bank said in a statement that the existing exchange rates "did not correspond to the country's current economic conditions."
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